Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => IOTA Forum => Topic started by: Munareal on October 27, 2018, 09:33:19 AM
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IOTA is created to simplify transactions using its platform Tangle. It is a coin for the Internet of Things and processes involving objects that have sensors. IOTA also does not requires transaction fees and have solved scaling problems, such as network delays due to block congestion. What makes IOTA unique to you?
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I think it seems by now, after 1.5 years of trading and a high increase in value, most of those who still hold iotas are investing for the longterm (years), since IOTA's vision and ambitions are quite extensive & the journey is only really in the earliest stages with this "training wheel" period for additional bug-finding and protocol refinement (first 'normal' exchange launch with Bitfinex was only 11 days ago, after all).
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There are various features that make IOTA unique for instance:
Unlike other cryptos, IOTA does not have a blockchain. Instead, it uses a Decentralised Acyclic Graph (DAG) named Tangle. The Tangle allows each transaction to be processed individually, rather than simultaneously, and even allows for them to be processed asynchronously.
The platform's cryptocurrency is MIOTA and one of its striking characteristics is that it will enable micropayment transactions between connected devices.
Features IOTA possesses that are quite advantageous are:
High scalability
Low resource requirements
Zero fee transactions
Secure data transfer
Offline transactions
Quantum Immune
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IOTA is created to simplify transactions using its platform Tangle. It is a coin for the Internet of Things and processes involving objects that have sensors. IOTA also does not requires transaction fees and have solved scaling problems, such as network delays due to block congestion. What makes IOTA unique to you?
Yeah, in addition, IOTA uses a directed acyclic graph called Tangle in order to facilitate large numbers of transactions without running into Bitcoin scalability problems.
Again, it is specifically designed to operate on the Internet of Things devices, such as smartwatches and weather trackers. The aim of IOTA is to allow owners to monetize the useful data stored within these devices.
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IOTA is the only crypto around which does not utilise blockchain technology. Instead, it uses another type of network, called a Tangle. According to IOTA’s website, the benefits of using Tangle include: a lack of fees, speedy transactions, secure data transfer and transactions can be conducted on infinite scales. Other aspects include pay-on-demand and micropayment abilities. IOTA was created to be “the backbone of the internet of things”, and fully supports secure machine-to-machine (m2m) communication. This makes miota unique and different from other coins even though there are some flaws.
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Direct acrylic graph architecture (which IOTA calls Tangle) makes it unique. There are other projects using it as well but Iota was the first i believe. Also, in 2020 there will be millions of IoT devices activated. There should be a system that will make them work together. So I believe a dag or blockchain project will solve this, Iota is a very possible one.
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IOTA has a very unique value when combined with IOT laden smart devices in the medical field. The problem it solves in this case is the transfer of value in the form of data from the smart devices to those who want to consume, analyse and learn from that data.
One such example - it's now possible to 3D print organs within which IOT sensors can be placed. I'll quote from a paper written by one of he CBF team, regarding the implanting of IOT into a replacement kidney:
After transplant, the sensors would start to monitor a set of post-operative conditions and then switch to their primary task of monitoring expected functions of the kidney. Blood pressure would be checked, fluid levels and the creation of related hormone levels measured by one of the dedicated components which could also trigger the changes in these levels to keep both optimal; beyond what the kidney itself could do. A similar process could be in place to monitor and modify levels of erythropoietin, used to trigger red blood cell creation by the bone marrow, along with checking blood pH, ionic composition of the blood, urinalysis and levels of vitamin D that the kidney helps in the production of. Every time analysis was performed, the sensor data would be broadcast out of the bio-mechanical organ and fed into an AI based data analytics system. Analytics would be provided back to the patient and care providers, not just for reporting on the functioning of the smart kidney, but about the effectiveness of optimising and managing the overall urinary and endocrine system. Remove IoT from the equation, and you get none of these benefits.
IOTA would be the currency that is paid for this data. There's nothing else positioned to do this. You provide the data from IOTA laden devices in any form and get paid in IOTA.
CBF
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I've never used IOTA but from what I've read about it to me it sounds more secure than other values. I might be wrong?